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SIFMA Statement On Massachusetts Fiduciary Rule

Date 21/02/2020

SIFMA today issued the following statement from Kenneth E. Bentsen, Jr., SIFMA president and CEO on a final rule issued in Massachusetts to create a state-specific fiduciary standard for broker-dealers and their representatives:

“We look forward to reviewing the rule with particular attention on whether it is consistent with existing federal fiduciary and best interest standards to which our members are subject, or whether it may conflict in ways – whether intended or unintended – that would impede our members from best serving their retail clients.”